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Upgraded To An International 4-Star Standard

Celadon opens Exotica Playa Resort in Phan Thiet, Vietnam

eTN  Aug 14, 2008

HO CHI MINH CITY, Vietnam (August 14, 2008) – Celadon International, Vietnam’s first international hospitality and real estate management company, is launching its first 4-star ‘Exotica’ branded resort near to Phan Thiet, a traditional fishing village and now an increasingly popular golfing resort destination on Vietnam’s southern coast.

Formerly known as the Mom Da Chim Resort & Spa, the ‘Exotica Playa Resort’ is located between the beautiful stretch of beach and Phan Thiet’s famous sand dunes beside the East China Sea, 200 kilometers north of Ho Chi Minh City.

Celadon International has now re-branded the resort featuring 97 rooms, suites and bungalows after taking over the management.

The new resort will officially open following an upgrade to an international 4-star standard.

Facilities currently include a restaurant, meeting rooms (150 persons), business center, Karaoke lounges, games room, children’s playground, spa, gym, tennis court and two swimming pools.

“The upgrade will incorporate additional beachfront villas, recreation, water sports and entertainment facilities,” said Celadon CEO Paul Stoll.

Further tourism real estate developments are planned in Hanoi, Ho Chi Minh City, Haiphong, Danang, Hoi An, Cam Ranh, Dalat, CanTho, and Phu Quoc Island.

To realize the plan, Celadon International has entered into a partnership with a leading global investment fund company to set up the Vietnam Real Estate Fund of US$700 million, which will be investing in hotels, resorts, offices, apartments and retail malls.

Celadon International, with joint venture partner NAVICO, has also agreed to develop hotels and resorts for US$200 million. The signing of the agreement in Frankfurt, Germany was witnessed by senior governors of both countries including the Prime Minister of Vietnam, during his recent visit to Germany.

Celadon currently also manages the luxury Celadon Palace Hue, The Imperial Hotel & Apartments Vung Tau, the Celadon Green Island Hotel Danang (opening 2010), and Le Indochine Apartment Hotel Hue (opening 2009).

The group has three trademarked brands: Celadon (5-star) Exotica (4-star) and Chao (4-star).

Mr. Stoll is one of Vietnam’s most prominent hoteliers, who opened the country’s first international 5-star resort, The Furama Resort, Danang in the mid 1990’s.

He continues to be closely involved with Vietnam’s national tourism development, having led the country’s first international tourism promotion campaign “Vietnam - A Destination for the new Millennium” launched at ITB Berlin in 1999.

An active lobbyist for environmental protection, beach safety and licensing of electronic casinos, he also established the ‘Best Hotels Alliance’ of Vietnam’s top hotels, initiated the Vietnam Hotel Association and promoted Central Vietnam as a destination in its own right through the ‘World Heritage Road’ tourism initiative.

Mr. Stoll now heads Celadon International, a niche hospitality operator focused on luxury international standard properties.

Celadon opens Exotica Playa Resort in Phan Thiet, Vietnam]

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